Payment of Monetary Contribution.
2.1 Payment
(a) The Developer must pay each Monetary Contributions to the City on the due date set out in the table in clause 1 above by electronic funds transfer or unendorsed bank cheque or as otherwise directed by the City.
(b) At least 30 days prior to each of the Monetary Contributions falling due, the Developer must inform the City of its intention to seek a Construction Certificate and may request from the City written confirmation of the current amount of that Monetary Contribution (calculated as 3% of the cost of the Development in accordance with clause 1 of this Schedule 3).
(c) After receiving the notice under clause 2.1(b) above, the City will issue a letter to the Developer confirming the Monetary Contribution and providing payment details.
Payment of Monetary Contribution. The Developer shall pay the Monetary Contribution prior to the issuing of any Occupation Certificate for the final stage of the Approved Development.
Payment of Monetary Contribution. The Developer must pay the Monetary Contribution to the City on the date of this document in cash or by unendorsed bank cheque.
Payment of Monetary Contribution. 6.1 The Developer agrees to make the Monetary Contribution to the Council as set out in Item 5 of Schedule 1.
6.2 The Developer shall pay to the Council the Monetary Contribution set out in Item 5 of Schedule 1 prior to the issue of the Construction Certificate for the residential works that occurs above the podium for the Development.
Payment of Monetary Contribution. A monetary Development Contribution is taken to have been made by the Relevant Developer when the Council receives the full amount of the contribution payable:
(a) in cash; or
(b) upon clearance of an unendorsed bank cheque; or
(c) by a deposit, by means of electronic funds transfer, of cleared funds into a bank account nominated by the Council.
Payment of Monetary Contribution. In paragraph 2.5 Business Innovation Space Fitout (c):
Payment of Monetary Contribution where different kinds of development on different parts of land
(1) This clause applies if:
(a) a single development consent authorises different kinds of relevant development on different parts of the land to which the development consent relates, and
(b) this Determination would otherwise require a monetary contribution to be paid at different times in respect of each kind of development.
(2) The special infrastructure contribution for relevant development in any such case (if made as a monetary contribution) is to be paid:
(a) at the earliest time by which payment would be required to be made for any of the different kinds of development, or
(b) as provided by subclause (3).
(3) Separate monetary contributions may be made for each kind of relevant development as if, instead of a single development consent, a separate development consent had been granted for each kind of development. Accordingly, the monetary contributions are payable at the various times provided by this Determination in relation to the different kinds of development concerned.
Payment of Monetary Contribution.
2.1 Payment Subject to clauses 2.2 and 2.3, the Developer must pay the Monetary Contribution to the City prior to the issue of the first Construction Certificate under the Development Consent for the Development in cash or by unendorsed bank cheque.
Payment of Monetary Contribution.
2.1 Payment The Developer must pay the Monetary Contribution to the City on the due dates stated in Items 1 and 2 in the table in clause 1 of Schedule 3 in cash or by electronic funds transfer or unendorsed bank cheque.
2.2 Indexation
(a) If the Infrastructure Contribution is not paid to the City on the date of this document, then at the date of payment the Infrastructure Contribution must be indexed as follows: where: B is the Index Number most recently published before the date this agreement commenced in accordance with clause 3.1 of this document. If after the formula is applied the Infrastructure Contribution will be less than the amount stated in item 1 of clause 1 above, the Infrastructure Contribution will not be adjusted.
2.3 No trust Nothing in this document creates any form of trust arrangement or fiduciary duty between the City and the Developer. Following receipt of the Monetary Contribution, the City is not required to separately account for the Monetary Contribution, report to the Developer regarding expenditure of the Monetary Contribution or comply with any request by the Developer to trace the Monetary Contribution.
2.4 Expenditure by the City The City will use the Infrastructure Contribution to achieve the public benefit of facilities, amenities and services to meet the needs of the growing residential and workforce population within Central Sydney.
Payment of Monetary Contribution
